home builders inside discretionary consumer spending and finally the treasury and the fed are debreesh yating the dollar. i'm going to come back to steve moore and give him his due. i think in the long run steve may be right. but this stuff, on top of the fact that hedge funds missed this, mutual funds missed this, the wall of worry is still there, that's why i don't think this baby is over yet. >> and $3 trillion still sitting in money market to buy every dip that comes along. here's my problem. i hear bob and i like to see these improvements in corporate profitabili profitability, but they're coming as a result of cost productions because top lines are generally falling. and my real problem is when does end unit demand pull actually able sustain profitability. longer term if that lags, steve moore is going to be right. >> i want to start with the fed and easy money and the dollar, okay? the fed is much more powerful than government spending and borrowing. if you borrow from peter to transfer spending to paul, there's no net anything. but the fed creates money, okay? their balance sheet has